Main Street Backs $15.3M LBO of Healthcare Data Services Provider

Main Street backs LBO of healthcare data services provider

Main Street Capital is completing a $15.3 million portfolio investment to support a leveraged buyout of a healthcare data services provider, the company says. The financing package combines first‑lien, senior secured term debt with a direct minority equity stake, and Main Street is partnering with Iron Creek Partners as the majority equity investor and the seller’s existing owner. The target, founded in 1999 and based in the Southeastern United States, cleans and matches provider information for third‑party administrators and processes high volumes of medical and dental claims using proprietary data‑driven workflows.

Main Street says the deal is intended to support continuity and growth of a business that emphasizes security and service quality in processing historical provider records and ongoing claims activity. The structure is typical of Main Street’s approach to sponsor‑backed transactions, where customized debt and minority equity positions are used to facilitate buyouts while preserving operational flexibility for management and sponsors. Main Street also notes an ongoing partnership history with Iron Creek on several prior deals, underscoring a repeat sponsor relationship in the lower‑middle market.

The transaction forms part of Main Street’s private loan and equity portfolio strategy, which targets companies with sustainable cash flow profiles in the lower‑middle market. The firm says its typical lower‑middle‑market portfolio companies have annual revenues between $10 million and $150 million, while private loan portfolio companies generally range from $25 million to $500 million. Main Street emphasizes secured debt as the primary vehicle in its private loan strategy and often supports management buyouts, recapitalizations, growth financings, refinancings and acquisitions.

Focused financing model for sponsors and entrepreneurs

Main Street highlights its “one‑stop” financing approach for entrepreneurs and private equity sponsors, offering long‑term, customized debt and equity solutions tailored to lower‑middle‑market needs. The company says this model combines underwriting, sector expertise and operational support to back companies that demonstrate steady cash generation and growth potential.

Adviser platform and contact details

Main Street operates an asset management business through MSC Adviser I, LLC and is registered under the Investment Advisers Act of 1940, managing external capital on behalf of third‑party investors. For further information the company lists CEO Dwayne L. Hyzak and CFO Ryan R. Nelson and provides a corporate phone number, 713‑350‑6000.